Could Household Debt Cause the Next Recession?

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Could Household Debt Cause the Next Recession? 4.5

Colorado State economist Steve Pressman thinks so: in the next few years rising interest rates could squeeze household spending, and depress the economy.

💬 Comments on the video

Middle Class? What a joke. My dad told me about the days when one man can raise a family of 5 on one income. We have not had a middle class in decades.

Author — JP


The next recession will destroy what is left of the middle class.

Author — shogun7p7


My man just started talking and never stopped

Author — Jason Odom


We are all one medical disaster away from ruin.

Author — P C


I am tremendously downsizing on my home my car and my spending, instead of spending on depreciating crap I’m going to pump up my investments.

Author — Mizz Bella


The United States is run on Ponzi finance.

Author — Frank Blangeard


They are saying that there is no inflation but when I go buy fruits and vegetables or rent(items which a household requires) the cost is through the roof -- there is indeed inflation; only crap packaged food made out of God knows what is affordable. No wonder household debt is through the roof because price of daily household necessities are higher all the time.

Author — wasy35


Middle class is defined by: being able to survive without income for 12 month. Living from hand to mouth is called poverty.

Author — SchnuckySchuster


The economy these days may aswell be loan sharks, pickpockets & snake oil salesmen

Author — Patrick O' Shea


There is no incentive to save when your savings account only pays 0.1% interest and your money loses value at 2% annually. Rich folks buy securities, poor folks buy boats and cars.

Author — Terry !


If your outgo exceeds your income
then your upkeep will be your downfall.

Author — Peter Wilson


Personal finance 101: Spend less than you make.

Author — Richard Elardi


I've hopefully avoided this for myself.

Lesson learned from the credit card mess I get myself into when I was in my 20's. Live in a small, very plain house.

Stopped buying my fancier cars that was my norm and after the economic crisis of 2009 decided to forget pretention and just go basic, so I drive the middle-tier compact cars like a Mazda 3, Honda civic, etc. . the unfancy ones. . Pay them off quickly (Use some financing to keep my credit report 'healthy'). .

So in the 20-years since I got my house, my modest small home is paid off. My car is paid off. My credit card bills are trivial (just daily/weekly operating like buying gas, groceries, etc) and they always get paid off in total every month. My "fun stuff" is all paid for in cash. Got an emergency fund, savings, retirement savings, and a working plan to live someplace warm, cheap, laid-back, and relatively stable, outside of these united states when it's time for me to hang up my hamster wheeling shoes.

I keep things as simple as I can. . . I think if the bottom fell out of everything and if every non-essential had to be abandoned, I could 'survive' on the equivalent to what I earn in one day can sustain me for two weeks in the summer months and one week in the winter (heating costs are a bitch). Not meaning to sound like a monk, but I do splurge at times,  treat myself, and have some very nice things.

Author — Thomas Grey


The problem is that people want to emulate success by over induling
Count your own blessings and stop looking over the fence!!!!

Author — D- fiant 415


To think all the "interviewer" said was a simple "Hi".

Author — tedGEGI


live below your means
way below if you're smart
'gonna get bad
then badder
you're not familiar with 'badder'? you will be soon

Author — gary gerard


I don’t know why this guy needs an interviewer :)

Author — Artem Matsyplyuk


@3:15 This guy doesn't give a damn about the economy he is just scrolling through Instagram instead.

Author — Moner Mosa


No. Student loan debt. Btw, hackers get on your job and erase these loans.

Author — simeon310


If I was being interviewed by a reporter and they played on their iphone instead of looking at me an paying attention, I would walk
off the interview right there and then.
That reporter should be fired for his behavior.

Author — CallardAndBowser